IAM funding deals and dev challenge aim to solve enterprise identity threat

Identity security is under grave threat. For all of its advantages, digital identity represents a vulnerability that can be leveraged for mass credential theft, identity fraud, financial crime and worse. Writing on the emergent battle to secure the contested territory of digital ID, Biometric Update’s Anthony Kimery puts it in stark terms: “Those who control identity shape the battlefield. Those who ignore it become casualties of a new kind of cyberwarfare, one that is fought not with destruction, but with impersonation, automation, and silence.”

Hence the increasing demand for – and investment in – secure identity management systems that are comprehensive, efficient, user-friendly and cost effective.

Radiant Logic scores new investment for real-time IDM platform

Identity security posture management firm Radiant Logic has announced a “strategic growth investment” from Ridgeview Partners. A release says that, upon completion of the transaction, the private equity firm will join existing investor TA Associates to support Radiant Logic’s continuing global expansion. The release does not specify financial terms of the investment.

The RadiantOne federated identity platform aims to help large commercial and government organizations strengthen their security posture (or “identity hygiene”) and solve complex identity challenges at scale, by providing real-time analysis for digital identity ecosystems. Per the release, it “unifies 100 percent of identity data – including legacy systems, cloud platforms, machine and agentic identities – into a single authoritative source of truth.”

Dr. John Pritchard, CEO of Radiant Logic, says that “by solving customer challenges with advanced AI-driven analytics and continuous real-time monitoring, we empower enterprises to reduce identity-based risk, enhance compliance, and operate more efficiently in today’s complex digital landscape.”

As part of the deal, Chris Young, former EVP of business development, strategy and ventures at Microsoft and current CEO of McAfee, will join Radiant Logic’s board alongside Ridgeview co-founders Michael Hulslander and Hilton Romanski.

In 2021, Radiant Logic partnered with investment firm TA Associates, and has since launched RadiantOne AI (a “data lake-powered AI engine”) and a generative AI assistant that automates identity security posture management. In 2023, it acquired Brainwave GRC, expanding its capabilities in identity analytics, enhancing governance and compliance.

Ashu Agrawal, managing director at TA, says that “Ridgeview’s investment reflects Radiant Logic’s continued momentum and long-term potential.”

Portnox sees $37.5M investment from Updata for cloud-native security

A release from Portnox says it has closed a $37.5 million Series B funding round led by Updata Partners, which will be used to “accelerate product innovation, expand market reach and further empower resource-constrained security teams with accessible, enterprise-grade zero trust security.”

The Portnox Cloud product combines cloud native passwordless authentication, authorization, risk mitigation and compliance enforcement for enterprise networks, applications and infrastructure. The company has 1,000 global customers and boasts a 95 percent customer retention rate.

Updata invests in B2B software and technology-driven businesses, and has completed over 55 exits. General Partner and co-manager of Updata Partners Jon Seeber will join the Portnox Board of Directors.

“We see a massive opportunity in the shift to cloud-native security, and Portnox stands out with a uniquely unified approach to access control that’s both powerful and easy to adopt,” Seeber says. “The company’s leadership team has a deep understanding of the market and a clear track record of execution.”

Denny LeCompte, CEO of Portnox, observes that “companies are replacing on-premises Network Access Control (NAC) with cloud-native zero trust solutions, which we estimate to be a multi-billion-dollar market. I’m proud that Portnox is leading the charge with a best-of-breed Unified Access Control (UAC) platform.”

The latest investment builds upon Portnox’s $22 million Series A round of funding led by Elsewhere Partners in 2022, bringing the total investment in the company to $59.5 million.

Optimal IdM integrates FIDO passkeys

Identity and Access Management (IAM) firm Optimal IdM has issued a release announcing that its OptimalCloud product now supports FIDO passkeys, allowing organizations to implement passwordless authentication, including biometrics, across multiple platforms and devices.

Passkey integration for OptimalCloud promises improved user experience, phishing-resistant security provided by cryptographic keys, multi-platform compatibility, easy deployment, and reduced costs on account of the reduction in risk; “the need for additional risk-based authentication with SMS OTP can be reduced, lowering SMS costs for organizations.”

“Passkeys represent a significant milestone in the evolution of authentication, and we are proud to be at the forefront of this industry-wide effort to move beyond passwords,” says Larry Aucoin, managing partner at Optimal IdM. “By integrating passkeys into OptimalCloud, we are providing our customers with a future-proof solution that combines the highest levels of security with an exceptional user experience.”

Okta Startup Challenge to run for second year

San Francisco-based identity and access management company Okta has announced the 2nd annual Okta Startup Challenge – a competition inviting early stage startups incorporated in the U.S. to showcase their innovations in identity, privacy, and security.

A release says entrants will be evaluated on business potential, innovation and the use of identity enabled workflows in their product. Three startups will be selected to pitch live at the 2025 Oktane conference in September. The winning team could receive up to $500,000 from Okta, access to a global network of identity management experts and venture capitalists – and, as a cherry on top, the opportunity to ring the Nasdaq opening bell in New York City.

Okta’s platform provides startups with secure identity management, flexible authentication, adaptive access policies and easy integration with a host of applications. Austin Arensberg, senior director at Okta Ventures says that, “with Okta’s robust tools, startups can focus on creating new products and solutions without worrying about the complexities of managing identity infrastructure. The Okta Startup Challenge is an exciting opportunity for startups to showcase their creativity and vision while building the future of identity management.”

Article Topics

biometrics  |  digital identity  |  funding  |  identity access management (IAM)  |  identity management  |  Okta  |  Optimal IdM  |  passkeys  |  Portnox  |  Radiant Logic